Entr

1363 Words Dec 21st, 2012 6 Pages
1) What are the three parts of sustainability? Social Environment Economic

2) What did Michael Porter come up with? A)Reinnovation B) The Five Forces concept C) sustainability

1) Which country was used as a subject to test the potential benefits from entrepreneurship and innovation in developing countries?

(a) Haiti
(b) Uganda
(c) Ghana
(d) Latvia

2) According to the article pertaining to innovation in developing nations, there is a positive relationship between ___________ and __________.

(a) education, rate of income
(b) cultural barriers, economic development
(c) firm size, innovation

3) T/F As a benefit of service innovation, it is believed that users have valid, innovative, useful, and creative
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A) Open source

2)Professional developers can benefit from __________ input. A) User

3) T/F: User innovations are always practical. A) False

4) Porter's Five Forces do NOT include a) Inventory b) Substitutes c) Barriers to Entry d) Rivalry

5) Having your family and friends involved in your business is usually _______ for business. a) Beneficial b) Detrimental c) Incremental d) Superficial

1) Which of the following is NOT included in Porter's Five Forces?
A) Barriers to Entry
B) Substitutes
C) Supplier Power
D) Buyer Power
E) Sustainability

2) What are barriers to entry?
A) Obstacles in the path of a firm that make it difficult to enter the market
B) Physical issues that hinder a companies' production level
C) Forces that do not allow for innovation

What does it mean for a company to be able to make quick and smart adjustments along their way of production?
Answer: To be fluid, fluidity

What does it mean to have competitive advantage? A. What makes you stand out B. Ability to do it better than other competitors C. Your product is difficult to duplicate D. All of the above
Answer: D. All of the above

1. True or False: One reason to involver users in the development process is to incorporate their prefererences, desires, and needs.
A:True

2. Name 2 out of the 5 forces that Michael Porter discusses in

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